Sunday, April 29, 2012
J.K. Galbraith: Inequality and Instability
An analysis of the economic and political context prior to the initiation of the should-have-been-expected recession in 2008, in which the global community continues to find itself and will continue to do so for quite some time. A no growth, relative residual* global economy is the best we can expect until a full infrastructural move to sustainable local economies will be thrust upon us by the exigencies of our decreasing energy sources. No government and very few economists seem to have fully recognized the reality of a no growth overall global economy.
*By relative residual, I mean an unstable pattern of up one month, down the next, up in one region, down in another but with an overall effect of static growth.